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ABN AMRO has officially re-joined CLSSettlement as a direct settlement member, a move that became effective on May 5th. This marks a significant return for the Dutch bank, which was among the inaugural group of settlement members when CLSSettlement launched in 2002. In 2009, ABN AMRO had transitioned to an indirect, third-party participation model.
The decision to resume direct settlement membership underscores ABN AMRO’s ongoing commitment to mitigating foreign exchange (FX) settlement risk. Jacco Keijzer, head of global markets at ABN AMRO, emphasized that this has always been a priority for the bank. He highlighted that their long-standing participation in CLSSettlement has provided significant value to their operations and supported their adherence to global best practices. Keijzer further stated that becoming a settlement member reflects ABN AMRO’s dedication to fostering a more robust and efficient FX ecosystem, while ensuring their FX operations maintain the highest standards of operational efficiency and risk mitigation.
Beyond its own direct participation, ABN AMRO has confirmed that it will also offer third-party access to CLSSettlement for its clients. This expands the bank’s commitment to implementing strong FX settlement risk management practices and operational excellence across the broader FX market.
Lisa Danino-Lewis, Chief Growth Officer at CLS, expressed pleasure in welcoming ABN AMRO back as a settlement member. She noted that the bank’s decision highlights the wider benefits of CLS’s payment-versus-payment (PvP) settlement system, particularly its approach to multilateral netting and the in/out swap tool. These features contribute to capital and liquidity efficiencies, enabling settlement members who utilize both solutions to typically fund only around 1-2% of the total value of their payment instructions on an average day, thus freeing up cash flow for other business operations like trading, sales, and business growth.
CLSSettlement is widely recognized as the global standard for FX settlement risk mitigation. It plays a crucial role in the global financial system by settling over seven trillion payment instructions daily across 18 major currencies. ABN AMRO now joins 73 other leading banks as a direct settlement member in this critical financial market infrastructure.

Video courtesy of First Bank of Nigeria

Video courtesy of First Bank of Nigeria